5,609 Shares in Starbucks Co. (NASDAQ:SBUX) Purchased by Smith Thornton Advisors LLC

Smith Thornton Advisors LLC purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the second quarter, Holdings Channel.com reports. The firm purchased 5,609 shares of the coffee company’s stock, valued at approximately $437,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vima LLC purchased a new position in Starbucks during the fourth quarter worth about $26,000. Scarborough Advisors LLC purchased a new position in Starbucks in the fourth quarter worth $26,000. New Millennium Group LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at $26,000. Stephens Consulting LLC raised its stake in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Starbucks in the 2nd quarter worth about $27,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SBUX shares. Barclays raised their price objective on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $92.00 to $115.00 in a report on Thursday. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Bank of America lifted their price objective on Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $80.00 to $76.00 in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $100.52.

Insider Buying and Selling at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Trading Up 1.9 %

SBUX stock opened at $97.47 on Friday. The company’s 50 day moving average is $88.38 and its 200 day moving average is $84.22. The stock has a market cap of $110.45 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 2.29 and a beta of 0.96. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts forecast that Starbucks Co. will post 3.56 EPS for the current fiscal year.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.